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Section 403 of the Indian Penal Code deals with the offense of dishonest misappropriation of property. In the context of business law as applicable to cooperatives, this section becomes highly relevant because cooperative societies often involve collective pooling of resources, funds, and assets, making the risk of misappropriation a serious concern. Dishonest misappropriation occurs when a person, who has been entrusted with property or has lawful possession of it, dishonestly converts it for their own use or for unauthorized purposes. The law ______ __________ _________ __________ _____ ____.
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